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BANKING & NBFCS EXTRA ORDINARY

In exercise of the powers conferred by section 19, read with sub section (2) of section 12 of the Banking Companies Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), the Board of Directors of the Punjab Sind Bank

Date: 27th November 2024
Category: Extra Ordinary
Issued by Punjab & Sind Bank
New Delhi

Read or download the official PDF of this gazette notification issued by the Punjab & Sind Bank on 27th November 2024. Classified under Extra Ordinary.

Official Gazette Notification Text

Official Transcript

रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-27112024-258924 xxxGIDHxxx CG-DL-E-27112024-258924 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 936] नई दिल्ली, मगं लवार, नवम्ब र 26, 2024/ अग्रहायण 5, 1946 No. 936] NEW DELHI, TUESDAY, NOVEMBER 26, 2024/ AGRAHAYANA 5, 1946 पिं ाब एण्ड ससधं बकैं (मानव ससं...

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  • ✓ This gazette notification details amendments to the Punjab & Sind Bank (Officers’) Service Regulations, 1982. These amendments cover various aspects of officer compensation, benefits, and leave policies. The changes are primarily effective from November 1, 2017, with some changes effective from later dates like November 1, 2020. The amendments are a result of agreements between the Indian Banks’ Association and the apex level officers’ associations of the Banks.
  • ✓ Definition of 'family' is revised to include dependent parents, siblings, and children with specific income and disability criteria. The income ceiling for a family member to be considered 'wholly dependent' is set at ₹12,000 per month.
  • ✓ Revised pay scales for all officer grades are introduced, effective November 1, 2017. The scales range from ₹36,000 to ₹129,000.
  • ✓ Special allowances are revised. Effective November 1, 2017, special allowance is 16.40% to 20% of basic pay depending on the officer's scale, plus applicable Dearness Allowance.
  • ✓ Stagnation increments are revised. Officers in Scale I to IV will have their stagnation increments readjusted from a three-year to a two-year periodicity, effective November 1, 2017. Monetary benefits for this change will be payable from November 1, 2020, or the actual date of entitlement, whichever is later.

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